if you contribute to a 401k, you are not eligible for a deducatable
IRA.

There is a Roth IRA, which is "after tax". One advantage over a 401k
that a Roth features is qualified withdraws are tax free. Make sure
you understand the withdraw rules before considering this.

Hi all... Im new at all this.. so here goes.

I have a 401K at work, but due to the fact that the company doesnt meet
some minimum standard of lower compensated employees signing up, they
are limiting the 'so called' higher earners in their contributions. I
am only allowed to contribute up to 5% of my income to the 401K plan...
which only works out to be about $7000... Question is, is there
anything else I can contribute to that is 'pre-tax' like this one at
work? or do I have to do it 'post tax'?

any ideas would be appreciated.
thanks
JACK